ECONOMY

Greek economy grew 0.7 percent in 2014

greek-economy-grew-0-7-percent-in-2014

Greece's economy grew by 0.7 percent in 2014, down from a previous estimate of 0.8 percent released in March, revised data from the country's statistics service ELSTAT showed on Tuesday.

The economy is forecast to contract by 2.3 percent this year.

Economy Minister George Stathakis said last week that the recession could be shallower as the economy will benefit from a strong tourism and a milder impact than expected from capital controls imposed in late June.

Greece also revised figures for 2011, 2012 and 2013 gross domestic output, incorporating updated data and the results of a 2011 census.

[Reuters]